Bitcoin (BTCUSD) Commences a Bullish Trend

Bitcoin (BTCUSD) Price Forecast: April 23

BTCUSD price is moving as it commences a bullish trend, reaching an all-time high of $88,872 amid rising economic concerns. The crypto looked good for a long at its recent high as it continued its bullish run. However, if the bulls can increase their buying activities and break through the $107,200 supply value, the coin price may increase further. In that case, we should anticipate strong upward momentum to the upper resistance level of $108,000 and beyond, turning the crypto world into a profitable market.

Key Levels:
Resistance Levels: $87,000.00, $88,000.00, $89,000.00
Support Levels: $77,000.00, $76,000.00, $75,000.00

BTC (USD) Long-term Trend: Bullish (Daily Chart)

Bitcoin continues rising quietly as it commences its bullish trend and remains positive on the higher time frame. The price has turned to the upside above the moving average, suggesting a bullish momentum.
The pressure from the bulls with a long bullish candle to the $88,575 supply value in the last session has sustained the price of Bitcoin above the supply trend levels in its recent high.

The coin buyers responded to the market and commenced a bullish trend at the $88,872 resistance mark above the moving average line as the daily session began today, indicating more forces from the buy traders and bullish commitment.

Given the outlook, a bullish breakout confirmation reflecting the increased market sentiment will occur if the bulls move higher and close above the $107,200 high barrier.

Additionally, the coin market might continue the bullish trend as indicated by the momentum indicator signaling an uptrend.

In this scenario, buyers are anticipated to follow the trend, and from a long-term viewpoint, the price of BTCUSD may soon approach the upper resistance level of $108,000.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

BTCUSD indicates an upward trend with a bullish sentiment and also looks good for a long in medium-term perspective. The coin is trading above the level of $88,159 and presently facing overhead resistance at the recent high.
Today, the Bitcoin price commences a bullish trend and rises significantly above the resistance trend line at the $88,499 level as the 4-hourly chart begins, encouraging buyers to invest, as possible future gains are certain.

Thus, a possible breakout from the current retracement at the $88,499 neckline will accelerate the buying momentum and push the prices to hit the $107,000 previous resistance as it experiences a remarkable surge.

Hence, Bitcoin is showing more upside possibilities, as indicated by the daily stochastic, in an upward direction.

As a result, the crypto price may surge to reach the $108,000 upper high level in the days ahead, as the bulls continue to dictate the market conditions in its medium-term perspective.

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